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Resumes Its Uptrend

  • RES 4: 0.7677 High Jun 6, 2018
  • RES 3: 0.7638 38.2% retracement of the 2013-2020 downtrend
  • RES 2: 0.7583 High Jun 14, 2018
  • RES 1: 0.7516 76.4% of 2018-19 downleg
  • PRICE: 0.7482 @ 11:14 GMT Dec 9
  • SUP 1: 0.7373 Low Dec 7
  • SUP 2: 0.7346 20-day EMA
  • SUP 3: 0.7339 Low Nov 30 and key near-term support
  • SUP 4: 0.7284 Low Nov 24

AUDUSD is firmer today and has cleared resistance at 0.7453, Dec 7 high. A bullish outlook dominates and further gains are likely. This follows last week's break of 0.7414 that confirmed a resumption of the uptrend since Mar 19. MA studies are also in a bull mode reinforcing current conditions. Today's breach of 0.7453, dDec 3 high and 0.7484, a high last seen in July 2018, opens 0.7516 next. Key short-term support is at 0.7373, Dec 7 low.

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